State farm is using the erroneous 17c formula to assess diminished value on a $11,900 car that suffered $5,000 in damage. Would you buy this car for the same price as an undamaged counterpart?
|Regarding your claim against our insured for property damage to your vehicle, State Farm has assessed whether your vehicle may have sustained a loss in value in addition to the costs to repair your vehicle.We have made that assessment using a formula referenced in Section of the March 6,2002 order of the Superior Court of Muscogee County in Mabry v.State Farm.That assessment is as follows:NADA Value:$11,900.0010% of NADA Value:$1190.00
Damage Modifier: 15%
Mileage Modifier: 0%
Assessment Result: $0